MongoDB (NASDAQ:MDB) Price Target Raised to $340.00 at DA Davidson

MongoDB (NASDAQ:MDB - Get Free Report) had its price target hoisted by research analysts at DA Davidson from $330.00 to $340.00 in a report issued on Friday, Benzinga reports. The brokerage presently has a "buy" rating on the stock. DA Davidson's target price points to a potential upside of 16.10% from the company's previous close.

Other equities analysts have also issued reports about the company. Piper Sandler raised their target price on MongoDB from $300.00 to $335.00 and gave the company an "overweight" rating in a report on Friday, August 30th. Sanford C. Bernstein boosted their target price on MongoDB from $358.00 to $360.00 and gave the stock an "outperform" rating in a report on Friday, August 30th. Mizuho increased their price target on MongoDB from $250.00 to $275.00 and gave the company a "neutral" rating in a report on Friday, August 30th. Stifel Nicolaus upped their price target on shares of MongoDB from $300.00 to $325.00 and gave the company a "buy" rating in a report on Friday, August 30th. Finally, Scotiabank boosted their price objective on MongoDB from $250.00 to $295.00 and gave the stock a "sector perform" rating in a research report on Friday, August 30th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and twenty have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $337.96.

MongoDB Stock Up 0.1 %

MDB stock traded up $0.17 during mid-day trading on Friday, hitting $292.86. The stock had a trading volume of 1,390,536 shares, compared to its average volume of 1,455,742. MongoDB has a 1-year low of $212.74 and a 1-year high of $509.62. The company has a fifty day moving average of $263.94 and a 200 day moving average of $288.54. The company has a current ratio of 5.03, a quick ratio of 5.03 and a debt-to-equity ratio of 0.84. The stock has a market capitalization of $21.63 billion, a price-to-earnings ratio of -97.42 and a beta of 1.15.

MongoDB (NASDAQ:MDB - Get Free Report) last issued its quarterly earnings data on Thursday, August 29th. The company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.21. The firm had revenue of $478.11 million for the quarter, compared to analyst estimates of $465.03 million. MongoDB had a negative net margin of 12.08% and a negative return on equity of 15.06%. During the same quarter last year, the firm earned ($0.63) earnings per share. The company's revenue for the quarter was up 12.8% on a year-over-year basis. On average, equities analysts expect that MongoDB will post -2.44 EPS for the current fiscal year.

Insider Activity at MongoDB

In other MongoDB news, CAO Thomas Bull sold 1,000 shares of the stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $282.89, for a total transaction of $282,890.00. Following the sale, the chief accounting officer now owns 16,222 shares of the company's stock, valued at $4,589,041.58. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Dwight A. Merriman sold 3,000 shares of the company's stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $290.79, for a total transaction of $872,370.00. Following the transaction, the director now owns 1,135,006 shares of the company's stock, valued at $330,048,394.74. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Thomas Bull sold 1,000 shares of the company's stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $282.89, for a total transaction of $282,890.00. Following the transaction, the chief accounting officer now owns 16,222 shares in the company, valued at approximately $4,589,041.58. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 15,896 shares of company stock valued at $4,187,260 in the last three months. Corporate insiders own 3.60% of the company's stock.

Institutional Investors Weigh In On MongoDB

A number of institutional investors have recently made changes to their positions in MDB. Transcendent Capital Group LLC bought a new position in MongoDB during the 4th quarter worth approximately $25,000. MFA Wealth Advisors LLC bought a new position in shares of MongoDB during the second quarter worth $25,000. Sunbelt Securities Inc. grew its holdings in shares of MongoDB by 155.1% in the 1st quarter. Sunbelt Securities Inc. now owns 125 shares of the company's stock valued at $45,000 after buying an additional 76 shares during the period. J.Safra Asset Management Corp increased its position in shares of MongoDB by 682.4% in the 2nd quarter. J.Safra Asset Management Corp now owns 133 shares of the company's stock valued at $33,000 after buying an additional 116 shares in the last quarter. Finally, Quarry LP raised its stake in MongoDB by 2,580.0% during the 2nd quarter. Quarry LP now owns 134 shares of the company's stock worth $33,000 after buying an additional 129 shares during the period. 89.29% of the stock is owned by institutional investors and hedge funds.

About MongoDB

MongoDB, Inc, together with its subsidiaries, provides general purpose database platform worldwide. The company provides MongoDB Atlas, a hosted multi-cloud database-as-a-service solution; MongoDB Enterprise Advanced, a commercial database server for enterprise customers to run in the cloud, on-premises, or in a hybrid environment; and Community Server, a free-to-download version of its database, which includes the functionality that developers need to get started with MongoDB.